Although the economy overall is doing well and unemployment remains at historic lows, workers still face a lot of anxiety. Do you want to help your team members sleep better at night and perform at their best during the day? If so, you’ll need to foster a supportive work environment that addresses their worries. Here are three of the top employee concerns faced by many of today’s workers.
Job Security
High-profile layoffs regularly make the news. Even if you have no intention of cutting jobs, your team members may feel insecure. Alleviate this anxiety through transparency. If their jobs are secure, tell them that, and pledge to let everyone know if anything changes. Then follow up. If there ever comes a time when layoffs are on the table, or if a merger or buyout takes place, explain what is happening and what to expect.
Rising Cost of Living
The cost of living is one of the top employee concerns for people of all backgrounds and income levels. Although inflation has cooled, prices are still too high for everything from housing to groceries to healthcare. Make sure you’re paying fair, competitive wages that account for your employees’ higher expenses. Also, revisit your benefits package to find new avenues to relieve some financial stress. For example, onsite childcare or optional pet insurance can go a long way toward helping offset the cost of living.
Financial Stability
Consumer debt levels are high across the board right now. Common financial concerns include medical debt and student loan repayments, as well as credit card debt. Consider offering financial counseling services as a benefit or perk. Sometimes a few conversations with a financial advisor can help people get back on financial track. And this is a win-win for your company, since employees who feel financially secure are more likely to stick around.
Your team members are individuals, each with their own unique employee concerns. But some issues are largely universal, cutting across all backgrounds and ways of life. Addressing the most common challenges can help you show your employees you care, while also improving their productivity.
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